The Global Botanical and plant-derivative drug market was estimated to be worth $ 26621 million in 2017. Due to the growing application of these drugs in several diseases, the market is expected to witness a rise in CAGR of 8.58% for the forecast years of 2018-2026 and is predicted to reach a worth of $53850 million by its end.
The global botanical and plant-derivative drug market is segmented on the basis of types, products and therapeutic applications. The type segment of the market includes steroids, terpenes, phenols glycosides, and other types. The product segment of this market includes herbal/traditional cough, cold and allergy (hay fever) remedies, herbal/traditional topical analgesics, herbal/traditional digestive remedies, herbal/traditional pediatric dietary supplements, herbal/traditional dermatological, herbal/traditional tonics and herbal/traditional dietary supplements. The therapeutic applications of this market can be found in dermatology, oncology, hormone disease, CNS disorders and in other therapeutic applications.
Geographical segmentation of the market is done into Europe, North America, Asia-Pacific and rest of world. The APAC market is expected to dominate the global scene throughout the forecast period, followed by Europe and North America. A major contribution to the APAC market comes from India, where 80% rural populations still use the indigenous systems of medicines and medical herbs. Botanical Plant derivative drug market in Europe is mainly driven by rising adoption of traditional and plant-based medicines and growing investments in R&D for the field of botanical medicines, whereas superior government efforts targeted towards growing the use of botanical drugs approved by FDA and the NIH’s (National Institutes of Health) Botanical Research Centers Program are expected to boost the North America botanical & plant derivative drug market growth.
Some of the renowned companies engaged in this market are Analyticon Discovery Gmbh, Abbott Laboratories, Bayer Healthcare Llc, Bionova, Boehringer Ingelheim, Bristol-Myers Squibb, Dr Willmar Schwabe Gmbh & Co. Kg, Cura Pharm, Eli Lilly And Company, Glenmark Pharmaceuticals Ltd, GlaxoSmithKline, Indena Viale Ortles, Medigene, Lupin Ltd, Novartis International Ag, Piramal Phytocare Ltd, Pfizer, Ranbaxy Laboratories Ltd (Acquired By Sun Pharmaceuticals Ltd), Tasly Pharmaceuticals Inc and Sanofi.